TRON is Up, Why?

TRON is rallying despite a massive sell off in the cryptocurrency market. This move may be a delayed response to the launch of the TRON Test Net at the end of last month.

The cryptocurrency market is in turmoil today, but one coin - TRON - is bucking the trend in a big way, up by almost 30% in the last 24 hours. The massive TRON rally is confusing, and it is unclear why the asset is soaring with no news - but the rally seems to be some kind of delayed response to the release of the TRON Test Net on the 31st of March.

Tron's surge in value comes at a strange time because the positive catalyst actually occurred last week. After the much anticipated TRON Test Net was released on the 31st of March, TRON paradoxically lost around 10% of its value within 24 hours, declining by around 35% in the week following the announcement. However, now the trend has flipped in a big way, and TRON is surging in value while the rest of the market languishes.

A large huge amount of trade volume is coming in from the Korean Market, and the Bitfinex and HitBTC exchanges have been pumping out buy orders. TRON is now worth approximately $0.040, and this gives it a market cap of $2.7 billion, making it the 12th largest coin by the market cap. 24-hour trade volume is worth about $900 million.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.

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